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I've got an ONS financial survey booked for this evening. Usually takes 1.5 to 2 hours. This time by phone rather than in person.
One of the questions they ask is something like "If you got an unexpected bill of £1000 that needed to be paid within the next few days would you be able to pay it?"
There are a surprising number of people who simply can't do that. No savings, no credit cards, etc.
Greenbank-
BBC reported this in 2016 https://www.bbc.co.uk/news/business-37504449
16 million with less than £100 savings...
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But they are probably not the ones blowing it on lattes and avocado toast but people on lower
incomes with families to feed. -
There are a surprising number of people who simply can't do that. No savings, no credit cards, etc.
Surprising high or low number ?
JWestland
sohi
not4sale
The upside of the saving is I read a press release from Natwest the other day that stated:
That is a horrible, stressful way for anyone to live without a financial safety net